INGLEWOOD BACON COMPANY

Taranaki Daily News, Volume LIV, Issue 98, 16 October 1911, Page 3

INGLEWOOD BACON COMPANY

j ANNUAL MRETIN'Ci. I There was not a very large attendance at tlu> twelfth animal meeting of the Inglewood Co-operative Biicnn Curing Co., Ltd., which was held in the Parish Hall, Inglemood, on .Saturday. Mr. A. Morton, chairnsan of director's, presided. The chairman, in moving the adoption of the report, which lias" already been published in the Daily News, said that he had pleasure in presenting the report of the year, for the balance-sheet was one of the most satisfactory ever presented by the directors to' the shareholders from every point of view, not only for the amount paid for pigs, but also for the price received for the products. Compared with last year shareholders had received £350 6s 2d more for 100 fewer pigs, although all the pip were lighter on the average. This was indeed very satisfactory. The amount of sales exceeded the previous year by £'2ooo, although the output was less. This showed that their market was an advancing one, and the directors had I certainly tried to maintain the prices in the interests of shareholders. The assets and liabilities showed a satisfactory state of affairs, and shareholders had every reason to be proud of their factory. The numlier of shares had increased by 1275 during the year, of which £42(5 lis fid had been paid up, leaving £S4B 8s 6d yet to be paid. The best feature was that the bank overdraft had been reduced by £998 4s Od. In the assets the stock on hand and amount receivable equalled the bank overdraft. The expenses had been heavier in proportion to the previous year, but this was due to three reasons, which he. considered could lie satisfactorily explained. First, they had extended their operations in receiving pigs and the rail and commission cost a°little more. Then they had adopted an improved method of treating the carcases, viz., by singeing. This had the effect of softening the rind, and also of sealing up the pores and so decreasing shrinkage. It entailed a little expense, as great heat had to be maintained. Then | they had opened up a fresh market in Wellington, which had proved most satisfactory, as they were selling at the highest price in the Dominion. In order to get a footing there they had to give a larger commission and discount, 'but! they still received a higher net price, and so satisfactory had it proved that six weeks ago the whole stock was cleaned out. He pointed out that the production from the present shareholders and the district as a whole was far too { small for the needs of the factory. Last' year they had received 100 less pig's, I although they had increased the receiv- I ing stations. He pointed out that the I price of pork in the Dominion must keep up, for the number of pigs appeared to be decreasing rather than increasing, and there were no more now than ten years ago, although the consumption was increasing with the increased population and fresh outlets. During the last fifteen months 19,000 carcases had been exported from the Dominion, and he considered that the local consumption was fairly heavy, probably 70,000 or 80,000 per annum! Thus there was not enough raw material available to enable bacon factories to carry on profitably. He believed if more i would cultivate for pigs as was done for cattle, their returns would be augmented considerably, and so would those of the Bacon Co. The dirty-tors felt the need of increased supplies so much that they had opened up receiving station*' at Toko and Douglas after I lie New j Veal-, and had received fair supply from ! each place. They were a!-o opening a I receiving station at Stratford, and should have a fair increase next year. He also stated that the company' was not. departing from its rule of receiving only from shareholders. As tar as the ] demand was concerned, in place of the j 4400 pigs received lust year they wanted I 9000. He stated that in order to meet 1 the demand the directors were making extensive additions to the factory for I drying and hanging, and would shortly increase the freezing chamber, as that was where they must felt the want of space, so that any time when there was no demand they could store until the demand arose, hi order to keep up their reputation for producing a. reliable article, it was necessary to make provision for artificial drying,' and further additions would be necessary so as to enable all the stock to .be' artificially dried, and so placed on the market quicker. In order to make the most economical and efficient use of the limited water supply they had made alterations to the race and penstock. He also gave a few details of the working. The .receipt of pigs this year was 4404 (last year 4504). The number received from outside stations was 2191 (last year 1850). viz., Midhirst 797 (984). Waitaiu 391 (387), Tariki 298 (245), Smart "Road 222 (240), Toko and Douglas 493. The total expense of receiving had been Is 3d per pig, as against Is last year. During the year the directors had made a further advance which he considered was in the .best interests, o? the company. They had had to compete against firms under Government inspection, and it had been stated by some of their prospective customers that a« the Bacon Co. was not slaughtering under Government inspection they could not be sure their production wa.s free from disease. Up till this year tin? company could not look at the quistion. as the Government charged £7 per month, but a few months ago the Department had arranged that the inspector's wages should only bo paid on the actual day* of slaughtering. The director- had met Messrs. lieake.s. Young and Munro, and, as a result, from the beginning of April all their pigs had been slaughtered under Government inspection, and all would be in the future. Since then eleven pigs had been condemned, equal to :i /i p«.r cent., which Mr. Munro informed him was the lowest in Now Zca'and. They had heard a good deal about the pi-tcurisa-tinn of milk and whey being absolutely necessary if they wished to ensure healthy nigs- and calves, and he considered that they could bring no better argument than t!i<- above in refutation, for there was not a single factory in the whole of the districts from which they received that pasteurised cither skim milk or whey (unless Tariki did). The actual cost of in-.;;eeli„n from April till the end of A.|gu,', had been (.7 14s. a cheap .sum to pay for the Government lira ml warranted free of disea.se. and in future it would be less, as the Department would only charge hilf a day if tin- inspection only took halt" a day This would be ,i saving ill the winter months. He pointed out that the averaire weight was le-s this y. ar, viz.. 129.81b against, llilli,. He pointed out that lighter jtiiTs were not so profitable, as there was more shrink lire, and fee company wouM probably have to laite the minimum weight, from 1121b to 1201b, or. if kepi at 1121b, inn-ease the percentage deducted to ?"• I-11 las other companies do), as 27'/.. was not sufficient. During th<> ve-ir the a vera ire price paid had been :; ]r>-lfid per Jb.. and ( the amount per pig £2 2s (id. There were now 472 .shareholders holding 7050 shares. " V Mr. Burkett seconded the adoption of the report. Mr. .Stanley asked what amount had

) been returned to the company as dam-/ aged. \ The chairman said that no record hud] been kept. There was always a certain■(amount of returns. No bacon factory I < could guarantee everything. The. wea , ther was an influencing factor. The j artificial drying would greatly minimise : j any risk. The chairman said that the New Plymouth sales last year were the ' largest in the history of the company. I air. Frost wanted to know if the com-1 pany had considered the handling of porkers, i.e., small pigs, by opening a I small goods shop. " I The chairman did not consider a small [ goods shop would help the farmers much. I The directors had not considered the | handling of porkers, and he did not think | it was advisable to do so until such time as there was direct shipping at New Plymouth. He pointed out that the freezing company at Moturoa was mak-' ing provision for handling pigs from companies such as this. He quite realised that until they were handling porkers the company was not doing all it could for the farmers, and he felt that before many years it would be a most important branch of their business. Mr. Todd asked' what wages they were | P a ying the men, as he did not hear any ' rumors of strikes. The chairman pointed out that they had a good staff and were paying ordinary -wages. Mr. Brown referred to the small amount showing for bad debts, viz., £8 Is 2d. if Mr. Ilopson, auditor, considered it 11 I showed excellent management when this j "] was all that had been lost in twelve a years. -,, The report and -balance-sheet were o unanimously adopted. i EIfBOTION OF OFFICERS. On the motion of Messrs. McDonald and Geo. Capper, the three retiring directors, (Messrs. A. Morton, H. H. Yeatos, and J. Davidson, were re-elected un- a opposed. The chairman sakl he would s like to have seen Toko represented on j the directorate, but no shareholder was t> present from that locality. u Mr. M. Hopson was also re-elected n auditor. a Jn returning thanks, the chairman 'said n he felt assured that the price would not fl be less than 4d this season, and urged « each shareholder not only to increase B1 their individual supply, but also to persuade their neighbors to supply, and so benefit not only themselves but the Bacon Co. and the industry as a whole. Votes of thanks to the staff, the press p and the chairman terminated the meet- t ing. h Mr. A. Morton was re-elected chairman t. of directors. f